NORTH KOREA USING CRYPTOCURRENCY SCAMS TO FUND ITS REGIME(beware of crpto scams)

North Korea is now exploiting cryptocurrencies to bypass international regulations put on it by UN and is helping themselves for financially supporting its regime.

Cyber-threat intelligence firm Recorded two cryptocurrency scams in 2018 by a network of "North Korea-enablers" located in Singapore.They were designed to con investors and funnel funds into the country.

One scam relates to the cryptocurrency 'hold', which was listed on and removed from a series of exchanges in 2018, before it rebranded to 'huzu'. The report say the cryptocurrency "left its investors high and dry."

A second scam had blockchain application invovled aka Marine Chain Platform and its initial coin offering (ICO) was based on crowdfunding efforts.

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